Managers of Wealth Middle East -Wealth, private banking and asset management news and opinion

Masraf Al Rayan reports a net profit of QAR 789mln for H1 2024

Net Profit of QAR 789 million, an increase of +3.2% year on year

Saudi Re completes sales of Probitas to Aviva

Aviva, which initially exited Lloyd’s following the CGU and Norwich Union merger in 2000, said its latest deal “significantly expands” market opportunity for Aviva’s Global Corporate & Specialty (GCS) business.

MENA equity market issuances jump three-fold in H1 2024 to $16.5bln

Follow-on offerings raised $13 billion, mostly on Saudi Aramco's June sale

National Finance partners with leading brands to offer seamless consumer durables financing

These partnerships aim to empower customers with convenient and flexible financing options, enabling them to realize their lifestyle aspirations

QIA invests in full-service trailer lessors Transportation Equipment Network (TEN)

TEN is North America’s second largest full-service trailer lessors with a combined fleet of over 83,000 trailers with locations across most major logistics hubs.

Middle East workforce embrace upskilling to thrive in the age of GenAI and climate change, says new PwC report

63% foresee tech disruption and 54% anticipate climate change impact on jobs

Sharjah debuts in euros to ease funding pressure: IFR

A banker involved in the deal said that it was primarily marketed to European credit funds, emerging markets investors and Middle East accounts

Azizi Developments partners with Unigulf Development for Azizi Venice and Riviera

Founded in 1998, Unigulf Development LLC is a key player in sustainable solutions across renewable energy, green IT, and sustainable agriculture

UAE central bank's foreign assets surge to Dh750b

Balance sheet posts 25 per cent jump year-on-year to hit a record Dh789.82 billion in April 2024 for the first time in its history

Banks expanding financing options for off-plan projects in Dubai

Banks make buying off-plan properties simpler than ever

Saudi Re completes the sale of its stake in Probitas for £123mln

This transaction aims to enhance the company's competitive position and financial position, enabling it to redirect investments to develop growth opportunities in both local and international markets

Türkiye's wealth fund reportedly exploring stake sale in Turkcell

The board of Türkiye Wealth Fund has yet to make a formal decision

Dubai high-end property sales undented by drop in listings, consultancy says

The total number of deals held up despite a 65.5 per cent year-on-year drop in the number of such luxury homes available on the market in the second quarter

Riyadh ranks among the top 15 fastest-developing cities, sole among Asian cities in Savills Growth Hubs Index

Saudi Arabia offers a plethora of opportunities for new development and business expansion, driven by Saudi Vision 2030

PG Real Estate unveils bold AED 1bln investment plan

Pipeline Includes Exciting New Residential Projects Across Al Furjan and Meydan including PG Maison

Saudi private sector workforce surges above 11.4m – official figures

The unemployment rate of females in Saudi Arabia dropped to 15.5 percent in 2023 compared to 33 percent in 2016

Exits Mena announces strategic JV to expand Saudi operations

This strategic move represents a significant milestone for Exits Mena

UAE raises $1.8bln in bids for Q3 2024 Islamic bonds

Auction for the bonds attracted strong demand from banks

Saudi SME Bank drives economic growth with $267m disbursed since inception

Official data from the Kingdom’s National Development Fund highlights that the bank introduced five new financing products for SMEs in 2023

Financial Services Group GSB launches debt and equity capital markets division: GSB Capital

Grant Bergman heads up the new division as Global Head of GSB Capital

Alternative Investments